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Agility targets US listing to expand its African operations. (Etiquette)
Kenya's electric mobility sector could get fresh financing and a faster rollout as it lists in the United States through a reverse merger expected in 2026, an African electric vehicle maker said.
South African electric vehicle and green technology firm, Agility, will merge with US-listed media Santiment Inc, and the combined entity will be named Agility Inc.
The transaction is expected to close by July 31, 2026.
Under the agreement, Agility shareholders will own 95 percent of the combined entity, while existing Media Sentiment shareholders will hold five percent.
The merger will enable Agility to list on the US stock exchange, making it one of the first African electric vehicle and green technology firms to access global capital markets through such a structure.
The company plans to infuse around $4 billion worth of assets into the listed entity, underscoring its growth ambitions in electric mobility, artificial intelligence and green technologies. Agility has also moved its headquarters to Miami, bringing it closer to global investors.
Investor interest in the deal was already evident, with Media Sentiment's share price rising more than 100 percent within two trading days of the announcement.
The company said leadership would remain unchanged, with Irina Veselinovic remaining chief executive of the merged entity.
Upon completion, both the existing South African entity and the US firm will cease to exist, and the merged company will become the surviving entity.
Agility also plans to pursue an uplisting and secondary listing on the Johannesburg Stock Exchange.
Founded in 2018, Agility focuses on the development, manufacturing and distribution of charging infrastructure and related technologies as well as electric vehicles, positioning itself as an alternative to fossil fuel dependency across the continent.
The company has previously signed agreements to supply electric scooters targeting last mile mobility and logistics demand in several African markets, including Kenya and Nigeria.